Quick flow to reconcile Stripe transactions in QuickBooks

Accountants recommend: quick flow to  transactions in QuickBooks

Summary:
  1. setup
  2. Sync
  3. QuickBooks Flow

Our customers have found that the most accurate way to record all Stripe sales, fees and refunds is to sync everything into a buffer account in QuickBooks Chart of Accounts and enable payouts processing for ready matches between Stripe transactions and withdrawals made to your checking.

Step 1 

In case you don’t have an account with “Stripe” in it, our app will auto-create it. Check your Business Payments settings to make sure you have that account selected as Bank account in Sales and Fees.

а3

Enable payouts and select your Checking account into which you deposit actual funds from Stripe in Transfer Funds To in order to automate the matching process.

а4

Step 2 

Sync Stripe transactions manually or set up an auto-sync.

Step 3 

Open For Review list in QuickBooks Banking and click on match next to Stripe withdrawals.

*Keep in mind that according to the way you setup your Stripe, in most cases real funds from Stripe are transferred to your checking account 3-7 days after the actual payment took place.

Congratulations! You have successfully pulled in all Stripe data and can easily reconcile your checking account now avoiding manual data entry and having recorded all sales, fees, expenses and refunds.

anton.bondar

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